China Everbright Bank's 2010 net profit up 67.4 %

China Everbright Bank's net profit is up jumped 67.4 percent to US$1.96 billion U.S. dollars for the 12-month period ended on Dec. 31. 2010.

The profits were boosted by higher interest margins and commissions.

The bank said that its profitability greatly improved in 2010 as its net interest income ratio reached 2.18 percent, or 23 basis points higher than in 2009.

The bank's operating income rose 46.5 percent to 35.53 billion yuan, and its net fee and commission income surged 49.2 percent to 4.71 billion yuan.

At the end of 2010, the bank's non-performing loans totaled 5.83 billion yuan, 2.3 billion yuan less than the previous year, while the non-performing loans ratio dropped 0.5 percentage points from 2009 to 0.75 percent.

The full story is available at xinhuanet.com.